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Re: BasedOnFeels post# 28950

Thursday, 04/18/2024 11:10:08 AM

Thursday, April 18, 2024 11:10:08 AM

Post# of 29608
Repost worthy (nice job)

There are some claiming outrageous misleading things, especially when they cant read/comprehend filings or know what share classes of each represents.

Class A preferred shares are the company voting control block. This will NEVER be converted unless a hostile takeover is happening. ILSTHOLDCO owns this block-aka Avi Minkowitz aka Leonite Capital. 1 share is 200,000,000 there is 50 of them =10 billion. Thats where this number comes from.

This is taken from their 2023 Annual, a very easy read for individuals who know what they are looking at.
Class B preferred shares CAN be converted, but only until:(ii)
The shares of Series B Preferred Stock may not be converted by the Holders of said shares until the earlier of: (a) a
Registration Statement covering the Common Stock shall have been declared effective by the SEC and no stop order
suspending the effectiveness of the Registration Statement shall have been issued and no proceedings for that purpose shall
have been initiated or threatened by the SEC or any other Governmental Authority, or (b) a period of at least one year has
elapsed since the completion of an audit of the Company’s financial statements by an auditing firm registered with the U.S.
Public Company Accounting Oversight Board ("PCAOB");

Now, if they are going to be an audited company, its VERY safe to assume they will be an SEC filer as well. I dont know any Audited Alternative Reporting OTC Pinks, do you?
So... If anyone wants to take my bet, Ill give them 2/1 says the OS remains unchanged for any duration under .005. Even then I dont think Leonite Capital converts and dumps on their own stock, especially not anything below .005 as that would be a loss on their loan. Makes no sense. They also just gave another 30k in capital at same .005 price. Keep an eye on the OTCM, any share conversion will be relayed through here... hasnt been any in 5+ years though....

Leonite owns the debt and owns the stock. Also, Ive never heard of 'toxic' debt when the fixed conversion price is .005 and the stock was trading at 0003-.0005 for 2 years. Seems the opposite of toxic, actually. Also full-rachet and anti-dilutive provisions. Find that from a debtor in the Pinks. Ill wait.

Dont listen to me or anyone else here. Do your own DD. Come up with your own opinions based on the data you find.



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